Samsung Group was founded in 1938 by Lee Byung-chul in Daegu, South Korea, originally as a trading company dealing in dried fish, noodles, and produce. It entered electronics in the late 1960s. Today, Samsung Electronics is the world’s largest electronics company by revenue and the crown jewel of the Samsung conglomerate.
Samsung Electronics dominates several critical technology markets. It’s the world’s largest manufacturer of memory chips (DRAM and NAND flash), display panels (OLED and LCD), and smartphones (competing with Apple for the top spot). The company also makes TVs, home appliances, and semiconductor foundry services.
The Galaxy smartphone line, launched in 2010, has been Samsung’s consumer flagship. Samsung ships over 200 million phones annually across price ranges from budget to premium. The Galaxy S and Galaxy Z (foldable) series compete directly with iPhones at the high end.
Samsung’s semiconductor business extends beyond memory. Samsung Foundry is the second-largest chip fabrication service after TSMC, manufacturing chips for customers including Qualcomm and NVIDIA. The company has invested over $200 billion in a multi-year expansion of its fabrication capacity, including a major new facility in Taylor, Texas.
Annual revenue for Samsung Electronics exceeds $200 billion, with operating profit that fluctuates heavily based on memory chip pricing cycles. The company employs over 270,000 people worldwide.
Headquartered in Suwon, South Korea, Samsung is run by a professional management team following the 2022 death of chairman Lee Kun-hee. The company’s influence on South Korea’s economy is enormous — Samsung Group’s revenue represents a significant percentage of the country’s GDP.
